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THV system, final edition

  • #10,701
  • May 16, 2009 6:37am May 16, 2009 6:37am
Hello judokamac How are you?
The Chonchy
  • #10,702
  • May 17, 2009 11:47am May 17, 2009 11:47am
Hi Sony,

Here is a template with the mtf settings you requested.
Attached File(s)
File Type: tpl forsony.tpl   47 KB | 712 downloads
  • #10,703
  • Edited 2:43pm May 17, 2009 11:56am | Edited 2:43pm
hi,

ok i go on abit below but to cut a long story short,,,,sometimes that is good
is there anyway i can test the MTF THV indicator prior to the last the 750 bars, it would be really useful !

heres what ive tried...., i decided to go offline, delete the current 750 bars data and work back from that,
when i compared the eurusd 5m offline chart to the online chart there were major differences between the signals,
i.e. the offline chart had very choppy signals compared to when it was online can anyone explain? thanks!

so very confused
  • #10,704
  • May 17, 2009 11:59am May 17, 2009 11:59am
For those who like to trade M15 and higher; here is a little technique I have been using for a while that helps maximize trades by keeping DD low, avoiding range areas, providing optimal entry points and maximizing pip gain.

The attached GBP/USD M15 chart from last week illustrates this very well. H1 fast TRIX has signaled 'possible' sell opportunities. Looking at the M15, we see all signals indicate a sell at the close of the 5/15, 3:00 candle. However, rather than enter at the open of the next candle, I prefer to wait until the low of that "signal" candle has been broken by at least 2 pips. This means waiting until the candle marked by the second yellow verticlal line breaks the 1.5214 level. Breaking below the 1.5214 level is the key to entering this trade.

Following this techniques reduces drawdown on this trade from a possible 26 pips to only 11 pips, and keeps us out of the range area that follows the first yellow vertical line for four and a half hours (you won't be sweating about what will happen with this trade!).

However..............entering on the second yellow line would be entering in "no-man's-land"; a risky situation. Waiting until the candle at the third yellow line closes would be the very best trade! Breaking the low of the 1.5198 level would have been the key to entering this trade! (60+ pips possible)

Here's the technique: Price must break the high of the "signal" candle for a long trade entry or the low for a short trade entry (2 or more pips breakage for me).

The next trade opportunity comes at the green verticle line (40+ pips possible).
Attached Image (click to enlarge)
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  • #10,705
  • Edited 2:34pm May 17, 2009 2:10pm | Edited 2:34pm
THank you for sharing your entry signals
However what are your exits/ exit strategy, (if i dont know when to exit before you enter a trade, the overall strategy will never work :-)...
you say 10,20, 40,60+ pips is possible on various trades, but what will enable you to get that, how do you know when to exit?

Quoting BeachBum
For those who like to trade M15 and higher; here is a little technique I have been using for a while that helps maximize trades by keeping DD low, avoiding range areas, providing optimal entry points and maximizing pip gain.

The attached GBP/USD M15 chart from last week illustrates this very well. H1 fast TRIX has signaled 'possible' sell opportunities. Looking at the M15, we see all signals indicate a sell at the close of the 5/15, 3:00 candle. However, rather than enter at the open of the next candle, I prefer to wait until the low of that "signal"...
  • #10,706
  • May 17, 2009 10:25pm May 17, 2009 10:25pm
5m EU.... looking at a base building up, looking to break psch level of 1.3455 range..looking for 6 lights, above the coral, above the cloud, looking long. I'll be watching.... to see what happens... and when it does, then I'll move...that's what's great about THV..no excuses. The signs are either there or not.
Attached Image (click to enlarge)
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Pipnosis "Mistakes are the portal of discovery." - James Joyce
  • #10,707
  • May 17, 2009 11:40pm May 17, 2009 11:40pm
Evening all,
Hope you are all in the black so to speak.. I have arbitrarilly borrowed parts of the THV from Cobra and am using them a bit differently. If everyone who would care to please tell me where the shortcomings are I would appreciate it.
first.. I don't have alot of time, so I am focusing on the higher timeframes. 1H works for me.
second.. if I have to watch to many indicators I go crosseyed and fall asleep.

I use the Coral and the trix from Cobra for trend identification.
I added a MA that changes color like the coral..
I added a MA that is set to 1 so it closly follows the candle close.

Basically I verify every hour where the trend is and either enter/exit or maintain current entries accordingly. If I watch and pay attention I rarely have a negative trade (demo only so far). Trying to follow the K.I.S.S. principal while trading the color change.

Questions:
Will this change any when I go Live?
What am I missing?
trying to follow the K.I.S.S. principal
Attached Image (click to enlarge)
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  • #10,708
  • May 18, 2009 5:33am May 18, 2009 5:33am
good mornig..
i want to change broker from alpari to fxpro... but minimum sl and trail stop is 5 pips (50 cause of the 5 decimal) can i use a script or an EA that manege my trail stop like 1 pip or 2 pips? i really like that one is in thv EA.. wich you set that at +5 pips of gain, trailing stop starts and lock every IE 2 pips...
can you post it here? for use it in a live account..
  • #10,709
  • May 18, 2009 6:21am May 18, 2009 6:21am
creativename.......

I've already discussed exit strategies in this thread; and I've posted this before too, but it bears repeating.

IMO each and every trader MUST make a method "their own". One of the best ways to do this is backtesting. If you like my entry suggestions, put the indicators on a chart and go back on each pair you want to trade to see firsthand just how possible trades would have developed. This will allow you to determine appropriate stop losses and take profit targets. Otherwise how are you going to know the best strategy? Best RR and MM for you? If you don't do this, you are trading blindly and will lose your money.

I'm just sharing a few ideas, not trying to provide every aspect of how to trade with THV indicators. You need to fill in the blanks according to your personality and trading style.

Quoting creativename
THank you for sharing your entry signals
However what are your exits/ exit strategy, (if i dont know when to exit before you enter a trade, the overall strategy will never work :-)...
you say 10,20, 40,60+ pips is possible on various trades, but what will enable you to get that, how do you know when to exit?
  • #10,710
  • May 18, 2009 6:42am May 18, 2009 6:42am
Quoting BeachBum
creativename.......

I've already discussed exit strategies in this thread; and I've posted this before too, but it bears repeating.

IMO each and every trader MUST make a method "their own". One of the best ways to do this is backtesting. If you like my entry suggestions, put the indicators on a chart and go back on each pair you want to trade to see firsthand just how possible trades would have developed. This will allow you to determine appropriate stop losses and take profit targets. Otherwise how are you going to know the best strategy? Best...
Hello,

thanks for your hints and tips. When you say backtesting you mean backtesting with the strategie tester or normal backtesting via scrolling back? I'm asking because I thought the mtf indicator repaints after closing down meta trader and therefore it doesn't give the right signals when I check your entries by scrolling back.
  • #10,711
  • May 18, 2009 7:07am May 18, 2009 7:07am
Good question: explanation required.

You can backtest either way WITHOUT relying on the MTF indicators; I use the MTFs as a "guide". But because TRIX does NOT repaint after a candle has closed, I prefer to scroll back and mark charts using the TRIX only. It's very time consuming to do this, but very accurate as well. Then you can add MTF when you trade as the "guide", but still look at the other charts to confirm. HTH!

Quoting MCFly
Hello,

thanks for your hints and tips. When you say backtesting you mean backtesting with the strategie tester or normal backtesting via scrolling back? I'm asking because I thought the mtf indicator repaints after closing down meta trader and therefore it doesn't give the right signals when I check your entries by scrolling back.
  • #10,712
  • May 18, 2009 7:34am May 18, 2009 7:34am
Hello all,

BeachBum, I read your overnight post #10804. Good idea about delaying entry until pa has a chance to fall back a bit to reduce drawdown.

I don't know whether this trade is going to be a winner or loser, but thought I'd bravely post it. I entered long at 1.3505 (the green vertical line on chart) after my M30 candle closed with M30F, M30S, H1F, M30C(loud), and H1C closed all green. 3505 was 4 pips above the signal candle's high. Price then proceeded to slowly fall to 1.3488. My lights are still good so I'm hoping for a winnner.

My SL is a bit higher than most would use, probably - 1.3465.
My 1st TP review point is the qtrly pivot at 1.3514. My preferred exit point/TP is 1.3530, the daily pivot.

Not looking particularly encouraging at present, but price has been slow today. I will update you on my progress, win or lose. Currently sitting at 3495.

Have a good trading day,
Ed

Edit: Two reservations about this trade:
1. Price is in "no-man's land" between 21 and 89ema.
2. EUR/USD is nearly overbought on the THV M30 chart.

Gotta take some chances somewhere. Trusting my signal, and I can live with the loss.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 27 KB
Up or down, gimme a ticket
  • #10,713
  • May 18, 2009 12:04pm May 18, 2009 12:04pm
Quoting SpecialEd
I entered long at 1.3505 (the green vertical line on chart) after my M30 candle closed with M30F, M30S, H1F, M30C(loud), and H1C closed all green. 3505 was 4 pips above the signal candle's high. Price then proceeded to slowly fall to 1.3488. My lights are still good so I'm hoping for a winnner.

My SL is a bit higher than most would use, probably - 1.3465.
My 1st TP review point is the qtrly pivot at 1.3514. My preferred exit point/TP is 1.3530, the daily pivot.

Edit: Two reservations about this trade:
1. Price is in "no-man's land" between...
Nearly 5 hours later, I am back with my close-out update on previously posted trade. My trade garnered 25 pips, my original TP. Whew!

One thing that I may have learned on this trade - on a tightly ranging day, it might be better to trade THV on the M15 instead of my M30. For example, if I had traded M15 and used my entry/exit rules (M15F, M15S, M30F, M15C all same color on close), I could have earned a maximum of about 76 pips. I would have had to work it a bit harder but much much better return, and would never have had to experience the -36 pip drawdown that almost SL'd me out.

Oh well, it was a successful trade. I earned my daily goal and I learned a good lesson, one that I will continue to validate on other tight days.

I may be the only one on this thread today. I'm posting here until the dust settles and I see for sure if we're going to the Cobra site. I for one like the variety of resources that are on FF, and Twee has never given me reason to believe that he was not running a top-notch, fair site in the past. I sympathize with the Cobra, and I respect him immensely. I will closely monitor the fall-out from what I still consider a misunderstanding.

Best to all,
Ed

P.S. Updated chart attached. I'm now standing by to catch a short move later tonight or tomorrow wee hours.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 28 KB
Up or down, gimme a ticket
  • #10,714
  • May 18, 2009 5:33pm May 18, 2009 5:33pm
Hi folks, here we go again after a small vacation.

Nuan, what's your take on E/Y for today?
  • #10,715
  • May 18, 2009 5:50pm May 18, 2009 5:50pm
Welcome back Cobra and all others who trade the THV system and, as Cobra said who were on a small vacation. Glad to see everyone back at FF since I really like this site and get most of my FX information from here.

Happy trading.
  • #10,716
  • Edited 6:08pm May 18, 2009 5:53pm | Edited 6:08pm
We are actually in the upper TL of a bear channel which can also, with not to much fantasy, be seen as a bull flag.

That makes me to have a coffee and some cigarretes untill the market takes a decision between break or bounce.

Hey Jeff, what you think about my pitch forks?
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  • #10,717
  • May 18, 2009 6:04pm May 18, 2009 6:04pm
There has been a steep run-up with E/Y today, makes me wonder what is going on....
  • #10,718
  • May 18, 2009 6:13pm May 18, 2009 6:13pm
Quoting cobraforex
Hi folks, here we go again after a small vacation.

Nuan, what's your take on E/Y for today?
welcome back. I hope vacation was not stressful ;-)
  • #10,719
  • May 18, 2009 6:38pm May 18, 2009 6:38pm
Quoting cobraforex
Hi folks, here we go again after a small vacation.

Nuan, what's your take on E/Y for today?
if MP 131.15 holds i still see it down to 126
but looking on 4h break of trendline shows it could go higher
lets wait and see
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  • #10,720
  • May 18, 2009 6:59pm May 18, 2009 6:59pm
Hmm, the overbought and divergence situation on 1H could be good for at least touch of DP but as you said, let's see, till now no entry permission.

Quoting nuancom
if MP 131.15 holds i still see it down to 126
but looking on 4h break of trendline shows it could go higher
lets wait and see
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